Bitcoin Implants? Man Sends World’s First ‘Bio-Payment’

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If you’ve seen movies like Idiocracy, even at the future’s lowest level of technological advancement, people will be scanning body parts to get through life. It may be 25, 100, or 500 years from now, but those days are in our future. For some people, the future is now, as the world’s first verified bio-payment using Bitcoin has been performed through a microchip implant into a man’s hand. Meet Patric Lanhed With the help of fellow computer software developer Juanjo Tara, Lanhed has started the age ofBitcoin bio-payments. The video below shows Lanhed being the human guinea pig for the first verified Blockchain entry, literally by hand, using an NFC (Near Field Communication) scanner. They used a microchip developed by Dangerous Things, which stores 888 bytes of data, enough to hold up to 26 Bitcoin private keys. The two developed the software that takes the NFC scan and transmits it to their online bitcoin wallet portal, providing a quick confirmation. “We are here to try to expand the frontiers of bio-functionality,” Tara reports to Vice’s Motherboard. “We started with bitcoins as a tribute of the revolution on the internet, and we believe in have the ownership of our data. Ultimately …

Is This Man the Reason Behind the Bitcoin Price Surge?

admin Bitcoin 2.0, Bitcoin Bank, Bitcoin News, CoinGreed, Companies, Crypto News, Opinion, Prices 0 Comments

Bitcoin price analysts are struggling to identify the rationale behind the sudden price spike in the cryptocurrency’s value as it broke the US$400 mark on November 3, surpassing a market cap of more than US$6 billion. One thing for sure is that nobody can deny the effect China has had on the market in November 2013, the first time it surged past the US$500 mark. This time around, however, things might be a little different. According to research done by Finance Today’s Izabella Kaminska, this recent Bitcoin rally could be caused by a Pyramid Scheme named MMM, orchestrated by Sergei Mavrodi, a convicted Russian serial Ponzi scheme organizer. Mavrodi, whose latest Ponzi scheme targets Chinese investors, has never shied away from admitting that his enterprises are all Pyramid schemes, in fact, he promotes his new program as a PyraMMMid where investors are urged to post profit testimonials on YouTube to “increase their revenues.” According to the English version of the website, new members are required to purchase Bitcoin, which they then pump into the Pyramid Scheme’s “mutual aid” program, paying off the earlier adopters, with a promise of 30% return on their investments at the end of the month. The program …

Bitcoin Companies Are Compounding the Bitcoin Hoarding Problem

admin Bitcoin Merchants, CoinGreed, Crypto News 0 Comments

Bitcoin hoarding has been dubbed as one of the “major problems” hampering the adoption growth of this disruptive digital currency. While there are over 14 million bitcoins in circulation at the time of publication, only a fraction of that amount is changing hands on a regular basis. As a result, there are a lot of coins not moving to different owners, leading to various addresses “hoarding” bitcoins. Also read: New Economy Movement Focuses on Equal Opportunities Consumers not Incentivized to Spend Bitcoin One of the more common reasons for the Bitcoin hoarding problems can be blamed on lack of incentives for consumers to spend Bitcoin. While merchants are reaping the benefits from paying lower transactions fees on Bitcoin transactions, the everyday consumer is still paying the same amount for goods and services, rather than receiving a discount. On top of that, the number of merchants accepting Bitcoin payments is still fairly low, despite that number increasing over time. Despite there being lower transactions fees for merchants, as well as the option to has Bitcoin transactions converted to fiat currency and receiving the money in their bank account the next business day, most people are still wary of Bitcoin. At this time, …